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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3895 Introduced in Senate (IS)]

<DOC>

118th CONGRESS
  2d Session
                                S. 3895

 To amend the Congressional Budget and Impoundment Control Act of 1974 
  to require the Congressional Budget Office to provide an inflation 
 estimate with respect to legislation with a significant impact on the 
  gross domestic product of the United States, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 7, 2024

Mr. Manchin (for himself and Mr. Tillis) introduced the following bill; 
    which was read twice and referred to the Committee on the Budget

_______________________________________________________________________

                                 A BILL

 
 To amend the Congressional Budget and Impoundment Control Act of 1974 
  to require the Congressional Budget Office to provide an inflation 
 estimate with respect to legislation with a significant impact on the 
  gross domestic product of the United States, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Informed Lawmaking to Combat 
Inflation Act''.

SEC. 2. LEGISLATIVE MANDATED INFLATION ACCOUNTABILITY AND REFORM.

    (a) In General.--Part A of title IV of the Congressional Budget and 
Impoundment Control Act of 1974 (2 U.S.C. 651 et seq.) is amended by 
adding at the end the following:

                   ``mandatory inflation forecasting

    ``Sec. 407.  (a) Definitions.--In this section--
    ``(1) the term `Director' means the Director of the Congressional 
Budget Office; and
    ``(2) the term `major legislation'--
            ``(A) means any bill or joint resolution, or amendment 
        thereto, amendment between the Houses in relation thereto, or 
        conference report thereon, that would be projected (in a 
        conventional cost estimate) to cause an annual gross budgetary 
        effect of at least 0.25 percent of the projected gross domestic 
        product of the United States; and
            ``(B) does not include measure described in subparagraph 
        (A) that--
                    ``(i) provides for emergency assistance or relief 
                at the request of any State, local, or Tribal 
                government or any official of a State, local, or Tribal 
                government; or
                    ``(ii) is necessary for the national security or 
                the ratification or implementation of international 
                treaty obligations.
    ``(b) Agency Assistance.--Each department, agency, establishment, 
or regulatory agency or commission of the Federal Government shall 
provide to the Director such information and assistance as the Director 
may reasonably request to assist the Director in carrying out this 
section.
    ``(c) Mandatory Inflation Forecasting.--
            ``(1) Submission of bills to the director.--On the date on 
        which an authorizing committee of the Senate or the House of 
        Representatives orders reported major legislation, the 
        committee shall promptly provide the major legislation to the 
        Director for the purpose of carrying out responsibilities 
        detailed in paragraph (2).
            ``(2) Mandatory reporting on inflationary forecasting.--For 
        any major legislation provided to the Director under paragraph 
        (1), the Director shall prepare and submit to the applicable 
        committee a statement estimating the inflationary effects of 
        the major legislation, which shall include--
                    ``(A) both short-term and long-term estimates of 
                the inflationary effects of the major legislation; and
                    ``(B) whether the Director determines that the 
                major legislation--
                            ``(i) will have no significant impact on 
                        inflation;
                            ``(ii) will have quantifiable inflationary 
                        impact on the consumer price index or the 
                        personal consumption expenditure index; or
                            ``(iii) is likely to have a significant 
                        impact on inflation but the amount cannot be 
                        determined at the time the estimate is 
                        prepared.
            ``(3) Amended bills and joint resolutions; conference 
        reports.--If a bill or joint resolution is passed in an amended 
        form (including if passed by one House as an amendment in the 
        nature of a substitute for the text of a bill or joint 
        resolution from the other House) or is reported by a committee 
        of conference in amended form, and the amended form constitutes 
        major legislation not previously considered by either House, 
        the chair of the committee that reported the bill or joint 
        resolution or the chair of any other committee designated by 
        the Speaker of the House of Representatives or the President 
        pro tempore of the Senate (as the case may be), or the 
        committee of conference, respectively, shall ensure to the 
        greatest extent practicable that the Director shall prepare a 
        statement as provided in paragraph (2) or a supplemental 
        statement for the bill or joint resolution in that amended 
        form.
    ``(d) Legislation Subject to Point of Order.--It shall not be in 
order in the Senate or the House of Representatives to consider any 
major legislation reported by a committee unless the committee has 
published a statement with respect to the major legislation prepared by 
the Director in accordance with this section.
    ``(e) Provisions Relating to the House of Representatives.--
            ``(1) Enforcement.--It shall not be in order in the House 
        of Representatives to consider a rule or order that waives the 
        application of subsection (d).
            ``(2) Disposition of points of order.--
                    ``(A) Application to the house of 
                representatives.--This paragraph shall apply only to 
                the House of Representatives.
                    ``(B) Threshold burden.--In order to be cognizable 
                by the Chair, a point of order under subsection (d) or 
                paragraph (1) of this subsection must specify the 
                precise language on which it is premised.
                    ``(C) Question of consideration.--As disposition of 
                points of order under subsection (d) or paragraph (1) 
                of this section, the Chair shall put the question of 
                consideration with respect to the proposition that is 
                the subject of the points of order.
                    ``(D) Debate and intervening motions.--A question 
                of consideration under this section shall be debatable 
                for 10 minutes by each Member initiating a point of 
                order and for 10 minutes by an opponent on each point 
                of order, but shall otherwise be decided without 
                intervening motion except one that the House adjourn or 
                that the Committee of the Whole rise, as the case may 
                be.
                    ``(E) Effect on amendment in order as original 
                text.--The disposition of the question of consideration 
                under this subsection with respect to a bill or joint 
                resolution shall be considered also to determine the 
                question of consideration under this subsection with 
                respect to an amendment made in order as original 
                text.''.
    (b) Clerical Amendment.--The table of contents in section 1(b) of 
the Congressional Budget and Impoundment Control Act of 1974 is amended 
by inserting after the item relating to section 406 the following:

``Sec. 407. Mandatory inflation forecasting.''.
                                 <all>
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